PUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0256%/8h= +28.0% APRnext payment +$0.32 per $10,000 · paid last 24h +0.064%

Price spread now: Phoenix against Backpack−0.036%7-day average +0.152% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$550.554% of the position

Long on Backpack Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.339%+$34 on $10k

Price spread, last 4 days (all we have)+0.485%+$49 · spread now −0.036%, 7d avg +0.152%

Together, before fees+0.825%+$82 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.188% cheaper against Backpack than usual: you would sell low and buy high (spread −0.036% now, against its 7-day average of +0.152%). If the spread goes back, that is −$19 on $10k: about 2.5 days of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack PUMP_USDC_PERP	0.004435	0.0100	pay 0.0013% / 1h	22m 57s	$798K	$203K	5x
Short	Phoenix PUMP	0.004433	0.0356	get 0.0045% / 1h	22m 57s	$45K	$119K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Backpack. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BackpackbpFee PhoenixbpOrdersPrice spread, now −0.036%Rate

Funding earned: $53.76
Price spread: −0.036% → +0.152%: −$18.84
Slippage, 4 orders: −$38.35
Fee Backpack: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$20.43
Costs to cover: 0.554%
Break-even: 9.7 days

Slippage from Backpack: live order book, 26 min ago; Phoenix: live order book, 10 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Backpack live order book, 26 min ago	2.67 bp	15.2 bp −$15	22.9 bp −$229	doesn't fit	doesn't fit
Sell Phoenix live order book, 10 min ago	2.02 bp	16.1 bp −$16	50.6 bp −$506	doesn't fit	doesn't fit

PUMP on 42 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PUMP-USD	−0.0011%	1h	0.004434	−0.011%	$20K	$11K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004430	−0.104%	$18K	$244K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004429	−0.129%	$54K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004435	+0.009%	$2.8M	$4.6M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−0.780%	$29K	$638K	20x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004450	+0.358%	$709K	$2.2M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004436	+0.032%	$534K	$774K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004452	+0.392%	$81.6M	$166.8M	75x	as long as short
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004452	+0.392%	$24.4M	$94.7M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004440	+0.117%	$26K	$166K	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PUMP-USD	+0.0100%	1h	0.004433	−0.036%	$64K	$103K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004430	−0.104%	$4.9M	$10.5M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004453	+0.415%	$23.9M	$13.7M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004453	+0.415%	$17.6M	$18.8M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004450	+0.347%	—	$13.9M	—	as long as short
Backpack PUMP_USDC_PERPlong	+0.0100%	1h	0.004435	long leg	$798K	$203K	5x
edgeX PUMPUSDC	+0.0100%	4h	0.004435	+0.016%	$67K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004429	−0.118%	$1.2M	$10.0M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004436	+0.032%	$150K	$748K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004433	−0.036%	$112K	$2.1M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004430	−0.104%	$42K	$11K	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004428	−0.140%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004433	−0.036%	$1K	$748K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004432	−0.059%	$278	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004432	−0.059%	$21K	$92K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004431	−0.081%	$2.0M	$3.9M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004452	+0.399%	$3.8M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004429	−0.126%	$66K	$10K	3x	as long as short
Paradex PUMP-USD-PERP	+0.0104%	8h	0.004436	+0.041%	$42K	$276	5x	as long as short
Nado PUMP-PERP	+0.0129%	1h	0.004434	−0.002%	$1.6M	$2.0M	10x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0271% / S −0.0200%	1h	0.004427	−0.171%	$53K	—	100x	as long as short
01 Exchange PUMPUSD	+0.0320%	1h	0.004433	−0.036%	$6K	$600	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004435	+0.009%	$3.7M	$4.4M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004430	−0.109%	$2	—	3x	as long as short
Phoenix PUMPshort	+0.0356%	1h	0.004433	−0.036%	$45K	$119K	10x
Hyperliquid PUMP	+0.0415%	1h	0.004439	+0.099%	$165.4M	$49.8M	10x	as long as short
Deribit PUMP_USDC-PERPETUAL	+0.0427%	1h	0.004433	−0.036%	$69K	$115K	25x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0480%	1h	0.004438	+0.077%	$705K	$5.5M	50x	as long as short
Injective PUMP/USDC PERP	+0.0571%	1h	0.004439	+0.099%	$38K	$204K	12x	as long as short
RISEx PUMP/USDC	+0.0682%	1h	0.004434	−0.020%	$527K	$1.0M	10x	as long as short
Kraken Futures PF_PUMPUSD	+0.0826%	1h	0.004434	−0.007%	$1.0M	$3.3M	50x	as long as short
Aftermath Perps PUMPUSD	+0.1115%	1h	0.004440	+0.124%	$514	$104K	10x	as long as short